First Trust Advisors LP Grows Position in Cavco Industries, Inc. (NASDAQ:CVCO)

First Trust Advisors LP boosted its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,799 shares of the construction company's stock after buying an additional 645 shares during the period. First Trust Advisors LP owned 0.06% of Cavco Industries worth $2,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new stake in Cavco Industries in the fourth quarter valued at $67,000. Smartleaf Asset Management LLC raised its position in Cavco Industries by 387.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock valued at $72,000 after purchasing an additional 128 shares during the period. Blue Trust Inc. raised its position in Cavco Industries by 28.9% in the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock valued at $105,000 after purchasing an additional 55 shares during the period. GAMMA Investing LLC raised its position in Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock valued at $142,000 after purchasing an additional 42 shares during the period. Finally, KBC Group NV raised its position in Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company's stock valued at $147,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Stock Down 0.6%

NASDAQ CVCO traded down $2.90 during trading hours on Friday, hitting $524.14. 43,300 shares of the company were exchanged, compared to its average volume of 64,256. The company has a 50 day moving average of $499.98 and a two-hundred day moving average of $488.72. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 25.79 and a beta of 1.29.

Insiders Place Their Bets

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the sale, the director now owns 15,286 shares in the company, valued at $8,084,459.68. This represents a 20.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVCO. StockNews.com upgraded Cavco Industries from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Wedbush reiterated a "neutral" rating and issued a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd.

Cavco Industries Company Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.